Shorting it. I believe it bounce from there and might touch 151. The two bulls and bears are putting up a struggle .
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Shorting it. I believe it bounce from there and might touch 151. The two bulls and bears are putting up a struggle .
On the 4H chat there looks like there is a fair amount of resistance...I'm also shortingOriginally Posted by ;
On chart, it seems like the price is merely hanging onto a cliff.
I hoked no one scalps this pair.
152 held. Testing 152.24/25 now. If that's positive, 152.3/5 comes back.
It only continued to 150.50, now it is rallying again. Let us see if there'll be a breakout above 153.84.
Appears like 152.1 held as well. . .keen to understand what other insights you have
If you are tracking GBPJPY, notice that the GBPJPY market is in a intrie corrective phase of a downward spontaneous tendency. Over the time frame, price action is in an ascending channel (blue) symbolizing a northward retracement, which spanned at the 78.6 Fib zone (magenta) of the most recent swing down. Price action is operating around the lower portion of this station midline. The H4 time frame shows a mixture of corrective ascending channels inside the main one (blue) found on the weekly time frame; a wider one (red) and a minor one (black). The wave structure suggests the odds of further upward movement prior to a turnaround that is southward.
I might be wrong. Trade secure and prosper.
KP
Former low removed and 151.95 attempting to hold. Am not in bear camp before sustained loss of 151.5/6. Still believing broader expanding triangle within this region, with 1st movement (a) being the drop 152.6~151.7 (90 pips). Very very messy B wave created new high 10~15 pips within the height according to a b wave. If C wave matches span of A wave, then 151.8 ish b4 recovery later back on the 152.2/3 central pivot Place
Long with TP of All 152.75. Let's see
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